Abu Dhabi – Mubasher: Aldar Properties and Mubadala Investment Company broke ground at One Maryah Place, a two-tower Grade A commercial development on Al Maryah Island, according to a press release.
Once the project is completed, One Maryah Place will be incorporated into the Aldar Investment Properties (AIP) portfolio, which includes AED 27 billion of income-generating real estate assets.
Located within the Abu Dhabi Global Market (ADGM), the development scheme is expected to boost the ADGM-free zone further as demand continues to grow from global corporations and financial institutions.
The project will deliver around 98,000 square metres of Grade-A office space across two connected towers, adding considerable weight to ADGM’s position as the region’s premium financial centre.
Jassem Saleh Busaibe, CEO of Aldar Investment, said: “Alongside Mubadala, we are developing One Maryah Place, which includes two premium office towers that are well located with large floor plans and fantastic amenities and will appeal to businesses looking to either enter Abu Dhabi for the first time or relocate to a new Grade A space.”
Building on the ADX-listed group’s initial acquisition of four Grade-A office towers at ADGM in 2022, Mubadala and Aldar jointly acquired Al Maryah Tower, a prime commercial property on Al Maryah Island.
Aldar and Expo City Dubai recently agreed to establish a major mixed-use development project through their joint venture (JV).
